ThinCats

ThinCats provides finance to award-winning restaurant




The alternative business funding provider ThinCats has delivered finance to award-winning Edinburgh eatery Picardy Place Steak Restaurant.

Established in 2014, the eatery is now part of a group comprising two restaurants, a themed bar and a boutique hotel.

The group founder Barrie Brown initially used a complicated array of financial arrangements to get the businesses to the level he desired.

However, when this became cumbersome and expensive, he turned to the bank to see if it could help to simplify the situation.

Unable to win the support of the bank, his accountants got in touch with Neil Davidson at Alderburn Finance Solutions, who recommended ThinCats.

“I value ThinCats’ understanding of risk; they try to work out how the deal could be done, rather than look for reasons why it shouldn’t be done,” said Neil.

“This provides a far better analysis of the situation, and is a much fairer way of assessing the viability of a proposal.”

Within a few weeks, the restaurant was refinanced resulting in a significant reduction in costs for the company and providing additional borrowing to expand and develop the businesses.

“Once again ThinCats has delivered, and Barrie can now give his full attention to growing his business rather than worrying about ineffectual short-term funding,” added Neil.

“I feel sure that, based on this experience, they will return to the ThinCats platform to fund their next project in the not too distant future.”

Barrie added: “I appreciate the fact that both Alderburn Finance and ThinCats took the time to understand the business, and the plans that I have for development.

“I have been able to focus on the future and it is looking very bright indeed.”

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